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CSC 2Q Net Off 15% As Revenue, Margins Weaken; View Mixed

DOW JONES NEWSWIRES CSC's (CSC) second-quarter earnings fell 15% as the information-technology company reported weaker revenue and margins along with sharply higher taxes. It raised its profit target for the year by 5 cents to $5.35 to $5.45 a share but lowered its revenue view to $16.5 billion to $17 billion from $16.8 billion to $17.2 billion. The information-technology services company, which provides services from consumer-credit information to online-data security, has benefited from increased IT outsourcing. For the quarter ended Oct. 1, CSC reported a profit of $184 million, or $1.18 a share, down from $216 million, or $1.40 a share, a year earlier. Revenue decreased 1.6% to $3.98 billion. Analysts polled by Thomson Reuters most recently forecast earnings of $1.17 on revenue of $4 billion. Gross margin fell to 20% from 20.4%. CSC's managed-services segment, which is its largest by revenue and which mainly covers government contracts, saw revenue edge up 0.1%. Its North American public-sector business reported revenue declined 4.5%. Shares closed Tuesday at $48.79 and were down 1.4% premarket to $48.10. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com;

Stock News for Computer Sciences (CSC)
DateTimeHeadline
05/28/201514:46:21Amended Statement of Changes in Beneficial Ownership (4/a)
05/28/201514:45:23Amended Statement of Changes in Beneficial Ownership (4/a)
05/27/201519:14:12Statement of Changes in Beneficial Ownership (4)
05/27/201519:07:02Statement of Changes in Beneficial Ownership (4)
05/26/201516:52:41Statement of Changes in Beneficial Ownership (4)
05/26/201516:52:41Statement of Changes in Beneficial Ownership (4)
05/20/201514:33:32Current Report Filing (8-k)
05/20/201512:15:10What Is the S&P 500 Index?
05/20/201506:01:38Current Report Filing (8-k)
05/19/201517:50:04Computer Sciences to Split Into Two Companies
05/19/201516:27:56Current Report Filing (8-k)
05/19/201516:17:00CSC Board Declares Quarterly Cash Dividend
05/19/201516:16:00CSC Announces Plan to Separate into Two Independent, Publicly...
05/19/201516:15:00CSC Delivers Solid Margin Expansion, Profit Growth, and Cash...
05/18/201518:02:32Statement of Changes in Beneficial Ownership (4)
05/11/201516:30:00CSC to Report Fourth Quarter and Fiscal Year 2015 Results on...
05/06/201512:14:00CSC Named 2014 EMC Americas Alliances Partner of the Year
05/06/201510:55:32Computer Sciences Upgraded to Hold at Zacks (CSC)
04/27/201516:48:33Current Report Filing (8-k)
04/23/201515:08:08Statement of Changes in Beneficial Ownership (4)

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